Holidays are not a good time to buy a holiday home or unit. The salesmen are out in force and the joy of endless family holidays for is an emotional trigger they know how to pull. I am not saying holiday homes cannot be good investments: over the last ten years we have seen some stunning results and many clients did very well out of holiday homes. And they enjoyed some great holidays too. Its just that January, while on holidays, is not the right time to buy.
And BTW, if you buy in January you will settle in April 2008, just in time for time for the winter season.
The best time to buy a holiday home is July. Fewer buyers are around and that means better value. And you are dealing with someone who has to sell, not someone who wants to make a killing.
And remember to avoid off the plan sales and sales that come with rental guarantees. Its possible these may turn out well, but its probable they will not. And we prefer to follow the probabilites rather than the possibilities.
I have just left Orlando Florida, home of theme parks and high pressure salesmen, and everyone from the concierge to the tourist information centre are fronts for high pressure sales tactics. Its nowhere near as bad in Australia, but it prompted me to type this reminder to take care financially while you are on holidays.
Thursday, December 20, 2007
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